Kula Gold continues to plumb the depths of the Crayfish gold target at its 100 per cent owned Marvel Loch project in the prolific Southern Cross goldfields in Western Australia. Diamond drilling has just commenced at the newly discovered prospect, extending recently drilled RC holes aimed at unravelling the geological secrets of gold-bearing rocks and structures.
Diamond drilling will reportedly extend previous RC holes by 30 to 50 metres and will be used to obtain orientated structural and lithological data from drill core. The company says diamond drilling will also test the potential extension and orientation of anomalous gold intercepts from the RC program which will facilitate a more focussed targeting strategy for future exploration.
Interestingly, Kula says abundant quartz veining and strong silicic alteration was observed within the mapped amphibolite in RC drill chips -both common geological signatures of Archean greenstone-hosted gold deposits.
Earlier this year, Kula said it had made a “technical breakthrough” during its extensive review of historical data identifying a previously unknown greenstone belt over its tenure.
Follow up ground geophysics, auger sampling and RC drilling picked up Archean greenstones, with prospective known host rocks including amphibolites and banded iron formations, over 25 kilometres of strike.
The greenstone belts of the Southern Cross region, just west of Kula’s ground, have produced a whopping 15 million ounces of gold to-date at an average grade of 3 to 5 grams per tonne.
The company expanded its ground position around the Airfield project nearly six-fold following its discovery amassing a generous 690 square kilometres of tenure covering the newly mapped greenstone sequence in the Ghooli Dome.
Early hints of gold anomalism were picked up by former major regional operator, Sons of Gwalia, nearly 30 years ago. Auger sampling at the time picked up low level gold values in the middle of what was thought to be a large barren granite dome – the Ghooli Dome.
Gold theory at the time steered exploration companies in the region towards the easy pickings from readily identified Archean greenstone shear-hosted deposits such as Marvel Lock, Yilgarn Star and Frasers, leaving the Ghooli granite dome largely under explored.
The company has said its focus remains on exploring around operating gold mines with favourable rocks and regional structures known to host world-class deposits. Kula’s tenure is only 3.5km north of the 600,000 ounce Nevoria gold mine and 9km east of the 3 million ounce Marvel Loch gold mine.
Industry and market onlookers will be keen to learn what secrets Kula can reveal as it continues to probe the depths of its patch of dirt in a region known for throwing up multi-million ounce gold deposits.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
